Riordan Problem Solution Essay

Riordan Problem Solution Essay

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Problem Solution: Riordan Manufacturing
Riordan Manufacturing is a global plastics producer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Production is divided among three plants: plastic beverage containers in Albany, Georgia; custom plastic parts in Pontiac, Michigan; and plastic fan parts in Hangzhou, China. Research and Development is conducted at corporate headquarters in San Jose, California. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers.
Recently, Riordan made several strategic changes in the way it manufactures and markets its products. Declining sales and uneven profits over the past two years not only forced the company to change its sales processes, but also prompted them to adopt a customer-relationship management (CRM) system. Primarily sales teams rather than single salespeople now service customers, with each team focusing on a particular customer segment. Teams typically include a sales person, product engineering specialist and customer service rep. The hope is that the team approach will improve sales. (Milkovich and Newman, 2004)
This paper introduces an overview of situational analysis, issues and opportunities and end-state vision of Riordan Manufacturing Company that is facing employees, lower job satisfaction and increased turnover. The current management team focuses on increasing employee motivation and rewards for encouraging workforce environmental performance. The organizational structure of Riordan needs to rapidly change the new strategy ...

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...ives. They can use other companies, similar to theirs, that have had to resolve the same issues. Riordan leaders will have to clearly communicate to their employees through a better form of communication, like a memo that their bonuses are not at risk. Perhaps their bonuses should be based on how they perform individually and within a team. Their decisions should involve all the appropriate stakeholders before committing to a decision. Instead of communicating through teams, the management team should meet on a weekly basis face to face. Riordan should implement the correct training and incentive plans to keep their employees. Most importantly, Riordan should understand the effectiveness of surveys and learn to act on any key findings. Finally, Riordan should send a letter to their employees announcing a new incentive plan for their existing and new employees.

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- Problem Solution: Riordan Manufacturing Riordan Manufacturing, a global plastics producer, employs approximately 550 people with projected annual earnings of $46 million. The manufacturing company is owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Riordan's production is divided into the following three categories: plastic beverage containers made in Albany, Georgia; custom plastic parts made in Pontiac, Michigan; and plastic fan parts made in Hangzhou, China.... [tags: Business Management Analysis Strategy]

- Problem Solution: Riordan Manufacturing Riordan Manufacturing is a global plastics producer employing about 550 employees. The manufacturer has experienced a decrease in sales and a increase in employee turnover in the last few months. The paper will examine solutions to retain the customers and gain new ones as well as brainstorm viable solutions to combat employee retention. Communication will be key to the outcome of both problems. Situation Analysis Issue and Opportunity Identification Riordan Manufacturing has a multitude of problems that they are trying to correct in a reactionary manner.... [tags: Business Management Analysis Strategy]

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- Gap Analysis: Riordan Manufacturing Introduction Riordan Manufacturing is a 16-year-old global plastic producing company employing 550 people with projected annual earnings of $46 million. Recently they’ve been having employee motivation issues and as a result are experiencing declining sales, lower job satisfaction, and increased turnover. With pay currently not meeting industry standards, they are at risk of losing good employees to other companies while at the same time having highly visible projects they need completed on the horizon.... [tags: Riordan Manufacturing Gap Analysis]